In our most recent Ohio Association of Realtors® online newsletter, there was this article pulled from The Buckeye Institute. Read it and weep. That’s all I’m going to say. 😦
Jobs Update: Private sector suffers while Government continues to grow
According to the Buckeye Institute’s latest electronic newsletter, while Ohio’s unemployment rate dropped from 10.9% in April to 10.7% in May, it is still clear that the stimulus is doing nothing to get Ohio’s private sector moving. Specifically, with the revisions to the April job numbers, the total number of non-farm, non-government jobs dropped by 6,600 in May (from 4,251,100 in April to 4,244,500). In contrast, the number of government jobs grew from the April figure of 791,000 to the May figure of 808,000, which is an increase of 17,000 new government jobs.
To provide proper context of how bad it is in Ohio, it is important to examine long-term trends. From January 1990 to May 2010, Ohio had a net increase of just 120,700 private sector jobs, which is roughly 495 net jobs per month over 244 months. At the same time, Ohio had a net increase of 93,200 government jobs, which is roughly 392 net jobs per month over 244 months. That means Ohio netted just 103 more private sector jobs per month over the course of 244 months, or 20.25 years.
Source: Buckeye Institute
Feel free to leave a comment but remember this is a “G” rated blog.